Contracts
Under West Virginia law, an option contract in real estate gives the optionee:
AThe obligation to purchase the property at the stated price
BThe right, but not the obligation, to purchase the property within a specified time period✓ Correct
CImmediate ownership of the property
DThe right to list the property for sale
Explanation
An option contract in West Virginia gives the optionee (buyer) the right, but not the obligation, to purchase the property at the agreed price within a specified time period. The optionor (seller) is bound to sell if the optionee exercises the option.
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